TXNM Energy enters $125M at-the-market equity distribution agreement

TXNM ENERGY INC

Company may sell up to $125M of common stock through BofA, MUFG and Scotia Capital as sales agents.
Sales may be made via ATM offerings on NYSE or privately negotiated transactions; commissions up to 2%.
Also may enter forward purchase transactions with Bank of America, MUFG and Bank of Nova Scotia.
Company not obligated to sell any shares; proceeds expected only upon physical settlement of forward agreements.
Agreement filed as Exhibit 10.1; legal opinion of Associate General Counsel also included.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TXNM ENERGY INC entered into Distribution Agreement with BofA Securities, Inc., MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. (each, a "Sales Agent" and collectively, the "Sales Agents") and Bank of America, N.A., MUFG Securities EMEA plc and The Bank of Nova Scotia, as Forward Purchasers valued at $125 million (effective 2026-03-03).

Action: entry
Agreement: atm program
Counterparty: BofA Securities, Inc., MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. (each, a "Sales Agent" and collectively, the "Sales Agents") and Bank of America, N.A., MUFG Securities EMEA plc and The Bank of Nova Scotia, as Forward Purchasers
Value: $125 million
Effective: 2026-03-03

Exact text from the filing

On March 3, 2026, TXNM Energy, Inc. (the “Company”) entered into a Distribution Agreement (the “Distribution Agreement”) with BofA Securities, Inc., MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. (each, a “Sales Agent” and collectively, the “Sales Agents”) and Bank of America, N.A., MUFG Securities EMEA plc and The Bank of Nova Scotia, as Forward Purchasers (each, a “Forward Purchaser” and collectively, the “Forward Purchasers”), pursuant to which the Company may sell, from time to time, up to an aggregate sales price of $125 million of its common stock, no par value (the “Shares”), through the Sales Agents.

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Source: SEC EDGAR

accession 0001108426-26-000010

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